IBM Buys Insurance Focused Webify
Webify's most visible contract was part of a $94 Million dollar project to outsource Information Technology operations to IBM at Fireman's Fund, a Novato California based subsidiary of Allianz Insurance based in Germany. Fred Matteson, the CIO of Fireman's Fund at the time of the outsourcing deal had this to say "This move to SOA will directly match our IT resources to our real business needs, We will reduce the size and cost of our existing infrastructure, giving us the resources to partner with our line-of-business colleagues to implement new technologies that can directly impact our bottom line. Our new operating model will differentiate us in the marketplace by making our technological connection with customers the smoothest in the industry." For this work, Matteson was honored with the CIO 100 award in 2005. However, Matteson eventually left Fireman's Fund.
Terms of the transaction were not disclosed. IBM said 120 employees of Webify, based in Austin, Texas, will become IBM employees. Webify has operations in Austin Texas and in Mumbai India.
IBM Acquiring Webify is a SOA Success Story
Re: IBM Acquiring Webify is a SOA Success Story
The IBM announcement today that they acquired Webify is a significant success story for SOA. Creating a reusable and reconfigurable set of business functions has been the Holy Grail for application vendors for decades. Webify pulled it off and now they have a big payday with the acquisition...
Not entirely clear if it's a big payday, terms were not disclosed.